Part of what makes Netflix so appealing – and why viewers often complete the company’s original series once they begin them – is that there is no wondering whether the next episode will be available. Netflix subscribers know that if they begin Stranger Things, for example, they could finish the season the same day.
This is a feature that other content providers have struggled with, and according to new research from TiVo, the majority of millennials have “show dumped,” or, gave up on a show, because accessing it became too difficult.
“The media industry is facing a perfect storm with increased choice and access to content, at the cost of massive fragmentation and frustrated consumers,” said Paul Stathacopoulos, vice president of strategy and strategic research, TiVo. “The coveted millennial demographic is in the eye of this storm, consuming the most content across the most services and platforms. However, members of this generation have short attention spans, and they are the most likely to ‘show dump’ when access to content becomes challenging. These are cautionary signs for content owners who rely on loyalty and continued engagement to rationalize and realize returns on their investments in creative properties.”
According to the research:
- 54 percent of millennials and just 17 percent of baby boomers have “show dumped,” giving up on a show they previously enjoyed because it became too difficult to access the content
- Millennials consume the most amount of content -- more than 6 hours per day
- Millennials spend 32 minutes per day searching for content to watch
- 73 percent of millennials have streaming video devices at home
- 91 percent pay for at least one subscription streaming service
- On average, millennials own 3 streaming devices and subscribe to 2.7 paid streaming services
- 83 percent of millennial pay-TV subscribers use the programming guide every day
- 53 percent of millennials want recommendations on what to watch
- 55 percent would pay to simplify search across platforms
- 43 percent of millennials use voice commands every day where only 8 percent of Boomers feel comfortable enough with the technology to do the same
- 46 percent of millennials feel extremely frustrated when they cannot easily find and access the programs they want to watch, in contrast to just 20 percent of boomers